Strategic Partnership Agreement Sample
Such an agreement could exist between a digital marketing agency and a graphic designer, a web designer, a database management company or an Internet service provider and an e-mail provider, to name but a few of the many possibilities. Some good examples of strategic partnership agreements between brands, which you may have heard of, are Starbucks in-store coffee shops in Barnes and Nobles, HP and Disney`s ultra-high-tech mission: space attraction and Microsoft`s joint partnership agreement for the construction of Windows Phones. This type of strategic partnership agreement is most beneficial for small businesses with limited choice of products and services that customers can offer. You don`t need a monthly shelf life for printer maintenance if you want to save more money by switching to a paperless solution. So reassess the situation before signing up for a strategic partnership. Never enter into an alliance just to say you have a strategic partner. Another fantastic example of strategic partnership for integration is the agreement between Nike and Apple. Beginning in the early 2000s, Nike and Apple began tying their respective products and technologies to create what would later become Nike. When purchasing fitness shoes and specific clothing, customers can pair their products with their iPhone apple or watch to track their health and achieve other health goals.
That is also why the various strategic partnerships we mentioned in this article exist between some of the biggest names in the industry. Cooperation in a strategic partnership has worked for major players such as Nokia and Microsoft, and with careful planning, it can also work for your business. It`s about taking the leap and saying, “I`m doing” a strategic partnership agreement. It should also be kept in mind that strategic partnerships can also reduce risk. This means, for example, that if you choose a strategic manufacturing partner that manages a plant and insures its employees, you will be dispossessed of responsibility for operating a similar facility. In a strategic partnership model, it`s about pursuing partners, not only because they add value to you, but also because they can benefit from your company`s products, services or notoriety. One of a company`s main goals is to maximize profits at a lower cost. There are several methods, and one of them is to engage in a strategic alliance.
In a Harvard Business Review study, the number of strategic cooperations between companies increases by a quarter each year. A successful partnership also contributes one-third of a company`s annual profit. In addition to the benefits guaranteed by this method, this article contains other details that allow you to determine if this method complies with your company`s requirements. It seems that every company today has at least one strategic partner. That said, some are certainly still totally isolated. Look at Dell. The choice of how you go with your business depends on your needs and goals. In principle, any technological know-how necessary for your business that you cannot make available internally can be reallocated to a strategic technology partnership. The choice of a technology partner should be based on an assessment of your needs and an assessment of the benefits of concluding the agreement. Whether you`re a start-up or a growth company, there are many reasons to enter into a strategic partnership agreement.
At least a strategic partnership will create added value for your product or service by expanding what you have to offer. A strategic partnership can even be a proverbial “match made in heaven” if the two parties involved replicate well enough.